Does more money correlate with greater happiness? (article)
“"This kind of collaboration requires far greater self-discipline and precision in thought than the standard procedure," she says. "Collaborating with an adversary -- or even a non-adversary -- is not easy, but both parties are likely to recognize the limits of their claims." Indeed, that's what happened, leading to a better understanding of the relationship between money and happiness.
And these findings have real-world implications, according to Killingsworth. For one, they could inform thinking about tax rates or how to compensate employees. And, of course, they matter to individuals as they navigate career choices or weigh a larger income against other priorities in life, Killingsworth says.
However, he adds that for emotional well-being money isn't the be all and end all. "Money is just one of the many determinants of happiness. Money is not the secret to happiness, but it can probably help a bit," he says.”
My Takeaways:
The age old saying, money doesn’t equal happiness is a long studied relationship in sociology within the top research institutions in the world. There are many conflicting studies that bring about conflicting results, one shows that money does bring about happiness but that plateaus at a certain amount.
This particular study done at the University of Pennsylvania looks at the set-up of these previous studies and shows that the relationship between money and happiness is more complex than we thought. In order to understand such a relationship, one would have to consider the socioeconomic position of that individual, their parents, and many other present circumstances such as their career, living situation and family.
There does show to be a general correlation that money does increment with happiness, however at a certain amount this relationship plateaus meaning more money meaning less and less happiness and one earns more. Conclusion? Money isn’t the key to happiness, but it certainly can help.
Full article is here!
#Money #Happiness
What do you think about the relationship between money and happiness?
This is a very good topic to touch base on. If you don't mind, I'll share my thoughts over this weekend. Been really busy with work this week to write a long post!~
Money vs happiness. Money can buy a lot of material things, but when it comes to emotions like happiness, it cannot be bought. One can use money to buy an item that will make them happy, and that item may put them into the mood of greater happiness. For example, someone may be working in a career with high pay, but not be happy and be complaining about their job or wanting a quit all the time. But they don't want to leave the job because the pay provides them a stable financial status. Then, there is another group of people who is working in a career where they have passion for. Going to work everyday, doing what they love, they will feel that happiness. Even when the income is not high, they are happy with it. Then, there is yet a third group. Where someone is working their dream job and have high pay. The high income is like a bonus to their happiness.
To be financially stable nowadays is crucial to survive in a world where everything is so expensive. That is why, many people think that having money = happiness. Happiness should be a feeling that comes from within, external matter only plays a role in making us feel happy, but it is not the source. Someone who has no money or is in debt, doesn't mean that they aren't happy and those who have a lot of money isn't necessarily always happy either.
Of course, it also depends on how one puts value to their happiness and money. They may link them together, or they might have separated the meaning of both. Either way, they should be separated. One may lead to the other, but it should not define each other.
@sunnyWriting4806
@Jaeteuk
Wow great explanation! I think that's a very good and valid way of putting it. It definitely does depend on the value that people have, some people tend to view everything connected to money others are able to see the differences between them. In such a case you're able to explain what the relationship between money and happiness truly is. Thanks for the insight!
